MILAN (Reuters) -Intesa Sanpaolo said on Monday it was selling its entire stake in Nexi, which is equivalent to up to 5.1% of the payments group’s capital.
Intesa first invested in Nexi in 2019 by taking a 9.9% holding as part of a deal to sell its retail payments business.
This later shrank after merger deals by Nexi, first with Denmark’s Nets and then with domestic rival SIA, diluting existing shareholders as it issued new shares.
Intesa, which is Italy’s biggest bank, said in a statement that the sale of its stake will have no impact on its strategic partnership with Nexi.
(Reporting by Valentina Za, editing by Federico Maccioni and Alexander Smith)
